July 10: The year-on-year (y-o-y) consumer price inflation dropped to 6.83 percent in mid-June 2023 compared to 8.56 percent a year ago.

According to the latest report of Nepal Rastra Bank (NRB), the food and beverage inflation stood at 5.66 percent whereas non-food and service inflation rose to 7.76 percent in the review month.

Under the food and beverage category, y-o-y price index of spices sub-category increased 35.29 percent, restaurant and hotel 14.36 percent, cereal grains and their products 13.06 percent, milk products and eggs 10.98 percent and tobacco products 8.49 percent while the y-o-y price index of ghee and oil sub-category decreased 16.60 percent, states the Current Macroeconomic and Financial Situation Report of the first 11 months of the current fiscal year published by NRB on Monday.

Under the non-food and services category, the y-o-y price index of recreation and culture sub-category increased 15.75 percent, education 10.56 percent, miscellaneous goods and services 9.33 percent, housing and utilities 8.41 percent and furnishing and household equipment 7.83 percent.

In the review month, consumer price inflation in the Kathmandu Valley, Terai, hill and mountain areas surged to 7.19 percent, 6.93 percent, 6.28 percent and 6.39 percent respectively. Inflation in these regions were 8.32 percent, 8.29 percent, 9.28 percent and 8.92 percent respectively a year ago, added the report.